Pioneer Natural Resources (NYSE:PXD) Shares Purchased by Beese Fulmer Investment Management Inc.

Beese Fulmer Investment Management Inc. increased its position in shares of Pioneer Natural Resources (NYSE:PXD) by 10.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,181 shares of the oil and gas development company’s stock after purchasing an additional 1,085 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in Pioneer Natural Resources were worth $2,317,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Counselors Inc. grew its stake in shares of Pioneer Natural Resources by 24.4% during the first quarter. Financial Counselors Inc. now owns 1,101 shares of the oil and gas development company’s stock worth $225,000 after purchasing an additional 216 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Pioneer Natural Resources by 25.6% during the first quarter. Advisors Asset Management Inc. now owns 57,259 shares of the oil and gas development company’s stock worth $11,695,000 after purchasing an additional 11,653 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Pioneer Natural Resources by 8.2% during the first quarter. Ameriprise Financial Inc. now owns 1,679,960 shares of the oil and gas development company’s stock worth $341,602,000 after purchasing an additional 127,684 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in Pioneer Natural Resources by 42.6% in the first quarter. Janney Montgomery Scott LLC now owns 85,212 shares of the oil and gas development company’s stock valued at $17,404,000 after acquiring an additional 25,443 shares during the last quarter. Finally, Black Maple Capital Management LP purchased a new stake in Pioneer Natural Resources in the first quarter valued at $245,000. Institutional investors and hedge funds own 82.72% of the company’s stock.

Pioneer Natural Resources Stock Performance

NYSE PXD traded down $3.35 during trading hours on Friday, hitting $234.00. 2,370,476 shares of the stock were exchanged, compared to its average volume of 1,535,087. The company has a market cap of $54.55 billion, a price-to-earnings ratio of 9.97, a price-to-earnings-growth ratio of 1.36 and a beta of 1.43. Pioneer Natural Resources has a 12-month low of $177.26 and a 12-month high of $274.70. The stock has a 50-day moving average of $229.22 and a 200 day moving average of $214.75. The company has a quick ratio of 0.59, a current ratio of 0.73 and a debt-to-equity ratio of 0.23.

Pioneer Natural Resources (NYSE:PXD) last issued its earnings results on Tuesday, August 1st. The oil and gas development company reported $4.49 earnings per share for the quarter, topping the consensus estimate of $4.12 by $0.37. Pioneer Natural Resources had a net margin of 28.46% and a return on equity of 25.53%. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.68 billion. As a group, equities research analysts forecast that Pioneer Natural Resources will post 20.43 earnings per share for the current year.

Pioneer Natural Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Wednesday, September 6th will be given a dividend of $1.84 per share. The ex-dividend date is Tuesday, September 5th. This represents a $7.36 annualized dividend and a yield of 3.15%. Pioneer Natural Resources’s payout ratio is currently 21.31%.

Wall Street Analyst Weigh In

PXD has been the subject of a number of research reports. Benchmark initiated coverage on shares of Pioneer Natural Resources in a research report on Wednesday, July 12th. They issued a “hold” rating for the company. Royal Bank of Canada reduced their price target on shares of Pioneer Natural Resources from $270.00 to $260.00 in a research report on Friday, July 14th. StockNews.com initiated coverage on shares of Pioneer Natural Resources in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Morgan Stanley boosted their price target on shares of Pioneer Natural Resources from $219.00 to $230.00 and gave the company an “underweight” rating in a research report on Friday, August 18th. Finally, Jefferies Financial Group boosted their price target on shares of Pioneer Natural Resources from $245.00 to $265.00 and gave the company a “hold” rating in a research report on Monday, August 28th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $262.80.

About Pioneer Natural Resources

Pioneer Natural Resources Company operates as an independent oil and gas exploration and production company in the United States. The company explores for, develops, and produces oil, natural gas liquids (NGLs), and gas. It has operations in the Midland Basin in West Texas. Pioneer Natural Resources Company was founded in 1997 and is headquartered in Irving, Texas.